Nigeria’s Seplat Energy has announced plans to revive 400 dormant oil wells to achieve a crude production target of over 120,000 barrels per day (bpd) in the coming months.
The company, which recently acquired ExxonMobil’s Nigerian operations, aims to more than double its output within six months, leveraging the exit of foreign oil majors from the country’s onshore sector.
Seplat completed its $1.28 billion acquisition of Mobil Producing Nigeria Unlimited (MPNU) in December after regulatory delays of over two years. 
The acquisition includes 11 onshore oil blocks, 48 oil and gas fields, three export terminals, and five gas processing facilities, making Seplat one of Nigeria’s largest domestic producers with control of 16% of the country’s production capacity.
According to Seplat’s Chief Financial Officer Eleanor Adaralegbe, “The assets have had very minimal investments until now. We expect that once we come in, there will be an opportunity to grow that much further.”
Seplat’s Chief Executive Roger Brown, also noted, the company will operate the assets alongside the Nigerian National Petroleum Company Limited (NNPC), as required by Nigerian oil and gas laws.
Read More:
